The European Bank for Reconstruction and Development (EBRD) has launched its Youth in Business programme in Türkiye, building on its success in 12 other countries. The initiative aims to mobilise up to €250 million in financing to support young entrepreneurs under 35.
Backed by the Turkish government and the European Union (EU), the programme offers financial support, expertise, and business development services to address key challenges faced by young entrepreneurs, such as limited access to funding, experience, and market information.
According to the Bank, Türkiye faces persistently high youth unemployment, and the EBRD sees fostering youth-led businesses as a catalyst for economic growth. The programme will channel financing, technical assistance, and risk-sharing tools through local partner banks, which will then lend to youth-led micro, small, and medium-sized enterprises (MSMEs).
The Youth in Business programme is currently active in Central Asia, Egypt, Morocco and the Western Balkans, and is designed to make financing more accessible for businesses.
A major focus of the initiative is to aid economic recovery in regions hit by the February 2023 earthquakes, with 70% of the programme's funding set to support businesses in those areas.
At the launch event in Istanbul, Francis Malige, EBRD Managing Director for Financial Institutions, highlighted the programme’s rapid growth since its 2021 debut in Egypt, expanding to a €1 billion initiative across 12 countries.
“Türkiye’s greatest asset is its youth,” he said. “We believe this programme will thrive among the country’s dynamic and resilient young entrepreneurs.”
The launch also marked the commitment of initial Turkish banking partners, with Akbank, Şekerbank, and TEB joining the programme.
U.S. federal prosecutors have charged six people over an alleged scheme that arranged hundreds of fraudulent ma...
Türkiye, Qatar, Pakistan and Indonesia have signed a new defence industry agreement in Doha, bringing existing military projects under a share...
Georgia's Constitutional Court has begun hearing a landmark case that could see five opposition parties banned following a legal challenge by t...
Ukrainian President Volodymyr Zelenskyy has arrived in Norway for talks about the Russia-Ukraine war. He is expected to meet with U.S. President Donald Trump's Special Envoy Steve Witkoff, who arrived in Oslo earlier. Witkoff will also meet European officials.
Iranian Foreign Minister Abbas Araghchi said regional issues should be resolved through diplomacy and blamed the United States for insecurity and tensions in the Strait of Hormuz, speaking at a joint news conference with Russian Foreign Minister Sergey Lavrov on Monday.
Yemen's Houthis have denied targeting the holy city of Medina on Wednesday adding that they have not conducted any military operations towards Saudi Arabia either, denying earlier comments from the Saudi-led coalition in Yemen.
U.S. envoy Steve Witkoff is meeting Russian President Vladimir Putin in St. Petersburg, with discussions focused on the war in Ukraine and the prospects for progress in ongoing diplomatic efforts.
French authorities imposed local curfews in parts of Paris, Lille and Nice on Monday after a weekend of riots and looting linked to nationwide anti-government protests, as the government faced mounting criticism over security failures.
As fuel prices surge nearly 37 per cent and protests over living costs turn violent, French President Emmanuel Macron is seeking fresh energy supplies and partnerships in the Gulf. But can diplomacy abroad ease mounting pressure at home?
Azerbaijan and Georgia are targeting more than $2 billion in bilateral trade as the neighbouring countries strengthen energy partnerships, expand transport links and pursue new investment opportunities.
More than 200 U.S. business leaders have joined Secretary of State Marco Rubio in Uzbekistan as Washington steps up efforts to turn closer diplomatic ties with Central Asia into trade and investment deals.
Thirty-five years after restoring independence, Azerbaijan's economy has more than tripled in real terms. Official data reveal how investment, manufacturing, private enterprise and digital development have reshaped the country's economic landscape.
U.S. President Donald Trump has lifted sanctions on Russian diesel exports and announced a Russia-Ukraine energy ceasefire aimed at easing fuel prices ahead of November’s midterm elections. But can Moscow deliver and will the move will bring meaningful relief to markets?
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment